Dynamic Priority Queue for Real-Time Audit Data

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Solution Overview

Problem

Current data audit operations in banking institutions are static and based on subjective judgment, making it challenging to dynamically alter or re-determine target audit operations in real-time, especially in response to significant events like pandemics or changes in operational events.

Innovation Solution

Systems and methods that dynamically recommend and generate updated priority queues for scheduling data operations based on real-time or near real-time event data, using a cascading data structure and priority weights to identify auditable entities and adjust audit plans accordingly.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Adaptability or versatility

If audit operations are determined on a yearly basis using subjective judgment, then resource allocation is simplified, but the system cannot dynamically adapt to real-time changes in operational events

Engineering Contradiction:

Improvedynamic adaptabilityVSAvoidsystem complexity

Core Design Contradiction:

Adaptability or versatilityVSDevice complexity

Solution Approach 1:

The patent implements dynamic priority queues that automatically adjust audit operation priorities based on real-time event data analysis. The system transitions from static yearly audit plans to dynamic, continuously updating priority structures that respond to changing operational conditions, thereby achieving dynamic adaptability without manually restructuring the entire audit framework

Inventive Principle:

Principle #15Dynamics

Solution Approach 2:

The system performs self-service by automatically analyzing event data, identifying abnormalities, and adjusting audit priorities without requiring subjective human judgment for each adjustment. The automated anomaly detection and priority reassignment mechanisms enable the system to adapt itself to changing conditions, reducing the need for complex manual intervention while maintaining high adaptability

Inventive Principle:

Principle #25Self-service

2Speed

If audit operations are set statically on a yearly basis, then planning and resource allocation are easier, but the system cannot respond timely to significant events like pandemics or fraud increases

Engineering Contradiction:

Improveresponse speedVSAvoidtime for voluminous analysis

Core Design Contradiction:

SpeedVSLoss of time

Solution Approach 1:

The system performs preliminary action by continuously analyzing event data in the background and pre-identifying potential abnormalities before they become critical issues. The automated monitoring and anomaly detection mechanisms are always active, preparing the system to immediately respond to significant events without requiring time-consuming manual analysis when events occur

Inventive Principle:

Principle #10Preliminary action

Solution Approach 2:

The system implements feedback loops where event data continuously feeds into the anomaly detection algorithms, which then feed back into priority queue adjustments. This closed-loop feedback mechanism enables rapid response to changing conditions by automatically translating new event data into actionable priority changes without manual intervention, achieving both speed and timely response

Inventive Principle:

Principle #23Feedback

3Measurement precision

If subjective judgment is used to determine audit operations, then flexibility in decision-making is maintained, but objectivity and consistency in audit prioritization are compromised

Engineering Contradiction:

ImproveobjectivityVSAvoidoperational simplicity

Core Design Contradiction:

Measurement precisionVSEase of operation

Solution Approach 1:

The patent replaces the mechanical system of subjective human judgment with an automated computational system that objectively analyzes event data using consistent algorithms. The system substitutes human decision-making with machine-based anomaly detection and priority assignment, eliminating subjectivity while maintaining operational simplicity through automated processes that require minimal human intervention

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

Data Source

PatentUS20240370803A1Systems and methods of dynamically presenting datasets in a graphical user interface

Publication Date: 2024.11.07 ROYAL BANK OF CANADA

AI summary

Systems for dynamically updating a priority queue for scheduling data operations associated with data records. A method includes: detecting event data meeting a threshold value for identifying a shift in data operation relevance and traversing a cascading data structure to identify an auditable entity corresponding to one or more data records associated with the event data, the one or more data records corresponding to at least one branch of the cascading data structure. The method includes generating an updated priority queue for scheduling data operations based on priority weights associated with branches of the cascading data structure, the updated priority queue based on event data corresponding to the identified auditable entity relative to event data associated with one or more records corresponding to other auditable entities and transmitting a signal for dynamically communicating the updated priority queue for scheduling data operations associated with data records of respective auditable entities.